PARIS, November 8th, 2016 — Bryan, Garnier & Co, a leading
European full-service investment bank, announced today that they have entered
into an agreement with JMP Securities, a division of U.S. investment banking
and alternative asset management firm JMP Group LLC to partner on the
origination and execution of cross-border mergers and acquisitions, strategic
advisory mandates and public and private capital-raising transactions.

The
alliance will operate under the common brand of JMP Bryan Garnier. At the same
time, JMP Securities and Bryan, Garnier & Co will also continue to operate
separately, providing services to clients as standalone firms. Both firms are
well recognized for their expertise in the technology and healthcare sectors,
and the alliance will capitalize on a long-term trend towards increased
integration of the European and U.S. technology and healthcare markets.

JMP Bryan
Garnier is led by a combination of senior executives from JMP Securities and
Bryan, Garnier & Co, including Carter Mack, co-founder and president of JMP
Group; Thomas Kilian, chief operating officer of investment banking at JMP
Securities; and Olivier Garnier de Falletans and Greg Revenu, both co-founders
and managing partners of Bryan, Garnier & Co. The alliance benefits from a
strong presence in both Europe and the U.S. and, with primary offices located
in Paris, London, Munich, Geneva, San Francisco, New York, Boston and Chicago.

“Over the
past 20 years, Bryan, Garnier has been highly successful in supporting our
clients’ growth in Europe and more recently in supporting their expansion in
the U.S. through both M&A and equity underwriting, including the NASDAQ
IPOs of Celyad, DBV Technologies, Galapagos and LDR Holding, for which JMP
Securities was also an underwriter,” said Olivier Garnier. “This alliance
propels us one step further. The combined industry insight, execution
capabilities and transatlantic reach of JMP Bryan Garnier give us a strategic
edge, filling a gap in the marketplace and enabling us to offer investment
banking services on an international scale that few firms with our
sector-specific focus can match.”

“JMP Bryan Garnier represents a natural
partnership between two growth-oriented investment banks with a cultural fit
and common expertise,” said Carter Mack. “The alliance significantly extends
JMP Securities’ reach overseas, allowing us to offer our clients not only a
comprehensive understanding of the market dynamics and competitive landscape in
Europe but also Bryan, Garnier’s longstanding relationships with strategic
buyers and private equity investors there. JMP has successfully invested in the
expansion of its M&A platform in recent years, and this partnership
tremendously enhances our ability to provide advisory clients with cross-border
solutions in addition to U.S. alternatives.”

Through JMP
Bryan Garnier, both JMP Securities and Bryan, Garnier & Co are able to
leverage the experience and skill of more than 300 professionals around the
globe. The alliance includes 35 equity research professionals covering around
300 U.S. and European technology and healthcare stocks, 31 equity salespeople
with over 700 institutional account relationships in the U.S. and Europe, and
75 investment bankers who have executed more than 170 technology and healthcare
transactions and raised over $15 billion in equity and debt capital for
technology and healthcare issuers in the last 24 months.

Bryan, Garnier & Co
is a European, full service growth-focused independent investment banking
partnership founded in 1996. The firm provides equity research, sales and
trading, private and public capital raising as well as M&A services to
growth companies and their investors. It focuses on key growth sectors of the
economy including Technology, Media, Telecoms, Healthcare, Smart Industries, Specialty
Retail and Business Services. Bryan, Garnier & Co Ltd is a fully registered
broker dealer authorized by the FCA in Europe and the FINRA in the U.S. Bryan,
Garnier & Co is headquartered in London, with additional offices in Paris,
Munich, Geneva and New York. The firm is a member of the London Stock Exchange
and Euronext.